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Venus Pipes & Tubes is currently trading at Rs. 569.90, up by 10.25 points or 1.83% from its previous closing of Rs. 559.65 on the BSE.

The scrip opened at Rs. 559.40 and has touched a high and low of Rs. 582.70 and Rs. 558.95 respectively. So far 3785 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 586.65 on 20-Sep-2022 and a 52 week low of Rs. 316.40 on 01-Jun-2022.

Last one week high and low of the scrip stood at Rs. 586.65 and Rs. 500.50 respectively. The current market cap of the company is Rs. 1156.68 crore.

The promoters holding in the company stood at 48.20%, while Institutions and Non-Institutions held 9.35% and 42.45% respectively.

Venus Pipes & Tubes has approved a capacity expansion of Rs 50 crore for bigger diameter Tube Mill to manufacture stainless steel welded pipes. This new line will increase the existing welded pipes range to maximum 20 inch (508mm) diameter and thickness up to SCH80s with a capacity by 700 mt per month. The project will be funded through a mix of Debt (Term loan) & internal accruals and commercial production is expected to start by Q1 FY24. The proposed expansion will include tube mill along with entire finishing infrastructure i.e. Annealing furnace, Pickling and Passivation setup, high end testing etc. to support the higher dia. welded pipe process.

This capacity expansion will be in addition to an on-going expansion of 600 MT per month of welded pipes upto 48 inches. Post completion of both these capacity expansion projects the total Welded capacity will increase by almost 3 times from current 700 MT per month to 2,000 MT per month by FY24.
Apart from this, the additional 500 MT per month (on existing capacity of 300 MT per month) for seamless pipes/tubes is on track. So the total Welded (2000 mt per month) & Seamless (800 mt per month) capacity post planned capex will be 2800 mt per month.